With the US SEC passing the spot Bitcoin ETF, the price of Bitcoin has hit new highs, and the competition between cryptocurrency platforms has become increasingly fierce.

Both buyers and sellers are betting on the rising market, and the holding volume is rising. The fluctuation of the market involves the heartstrings of countless investors. Investors try to interpret every subtle change in the market and find a reasonable explanation for every rise and fall.

Careful investors have long discovered that this round of bull market is different from the past. There has been no general rise in the market, but Bitcoin has led the entire market. Most investors who did not buy Bitcoin have far underperformed the industry Beta. The platform currency has become one of the few tokens in the entire industry that can capture the industry Alpha and have a certain value.

Recently, TOKEN2049 held a summit in Dubai, and Dubai ushered in a once-in-a-century heavy rain. Bitget provides a safe haven for participants to take a short break, and holds an open day for the Dubai office, inviting users to participate, communicate face to face, and directly listen to users' opinions and suggestions. Bitget is the first trading platform to open its office. Bitget's move marks it as the first trading platform to open its office space to the public, demonstrating its openness as an industry leader and its deep commitment to the community.

Average yield of 138%, Golden Shovel BGB

According to TokenInsight's Q1 2024 report, the platform coins GT, BNB and BGB increased by 108%, 95% and 81% respectively, all greater than BTC's increase in Q1.

Image source: TokenInsight

According to public information, Binance has conducted a total of 11 Launchpools since 2024, with an average annualized yield of 124%.

Bitget's overall average annualized rate of return is higher than Binance, at 138%. Since 2024, Bitget has launched seven Launchpool projects, including popular projects such as ZKFair ($ZKF), ZetaChain ($ZETA), and Ethena ($ENA).

Interestingly, BGB is also the first platform coin to hit a new high in this round of market. Today, BGB's market value has exceeded 1.7 billion US dollars, ranking 57th among all crypto assets, and is the fifth largest platform coin. If the price of BGB is adjusted to the K-line in monthly units, it will be found that BGB will hit a record high almost every 1 or 2 months.

In reality, many platforms do not want to conduct IEOs, but the high-quality projects in the market have been divided up by Binance and Bitget, leaving few. Since 2024, OKX has only conducted one Jumpstart, and this project, Polyhedra Network, was jointly conducted with Bitget.

Thanks to the continuous high returns and price surge, BGB has gradually gained the reputation of "Golden Shovel" in the community.

Through Launchpool, Bitget has added new usage scenarios for BGB, driving demand growth. At the same time, it has also locked liquidity to a certain extent, making the scarcity of tradable BGB in the market more scarce, which is beneficial to the long-term development of the currency price. In addition to Launchpool, Bitget has recently launched a new mining platform PoolX, which is positioned as a lighter Launchpool with a higher frequency and faster pace. The yields of BGB and USDT remain at 20% - 30%, which is a good rate of return regardless of bull or bear markets.

Not only that, holding BGB can also enjoy a variety of rights and interests in Bitget, such as 20% off spot fees, staking BGB without cash withdrawal fees, etc. According to the BGB white paper, the introduction of repurchase and destruction mechanisms will be considered in the future to further enhance the value and scarcity of BGB.

Explore high-quality assets and deeply deploy spot

In this round of market, more platforms choose to launch a large number of projects, regardless of the quality of the projects.

Of course, the data shows that Bitget has launched a lot of projects. In 2024Q1, a total of 186 new assets were launched, ranking third among all platforms. However, after communicating with the Bitget research and listing team, it was found that Bitget's listing strategy is not to blindly pile up the number.

Image source: Bitget

Bitget has clear quantitative standards when evaluating new assets. It does not rely mainly on project recommendations from business and channels, but is driven by top-down research and actively explores high-quality assets. In an interview, Bitget Research Institute revealed three decisions about listing coins: value-driven, efficiency-oriented, and comprehensive radiation. Bringing wealth effects to platform users and centering on user interests is the beginning of Bitget's development.

In order to create more opportunities to make money, the coins listed on Bitget are either expected to rise in the short term, or have good fundamentals and are expected to rise in the medium and long term. Such as ORDI, the leader of the BRC20 track, TIA, the leader of modular blockchain, and GAS, the fuel token of the public chain Neo. Thanks to its early launch, Bitget has become the dominant market for these tokens, second only to Binance and OKX.

For early popular coins, Bitget will strive to be launched as soon as possible to seize the precious time window for users. For example, Bitget launched UNIBOT, a Bot track asset, as early as July 2023. For old projects that have skyrocketed again due to major positive news, Bitget has an interesting strategy. They may not be launched immediately, because it may cause users to chase high and suffer short-term losses. On the contrary, Bitget will choose the right time to launch. Community user Alice said that Bitget did not have the coin GAS at first, but shortly after the sudden positive news of GAS in October last year, Alice noticed that Bitget officially announced the launch of GAS. At first, she did not pay attention to it. As a result, GAS skyrocketed 10 times in the following two weeks, which made the users who got on the train at that time reaped a lot of benefits.

For trading platforms, how to balance the number and quality of online projects is a difficult test to answer.

Bitget COO Vugar Usi said in the AMA that the spot business will be the key strategic direction of Bitget in 2024, and it will continue to enrich the currency, actively look for potential projects, and introduce different spot areas. As of now, there are more than 750 available tokens and more than 820 spot trading pairs on Bitget.

According to the data, Bitget's spot strategy has achieved good results and successfully achieved a balance between the two. TokenInsight data shows that in 2024Q1, Bitget's market share increased the most, nearly 3%. According to the "2023 CEX Market Report" recently released by 0xScope, Bitget's current comprehensive market share has jumped to fourth place, and spot is growing rapidly. At the same time, the growth of spot business has also helped Bitget's performance in the traditional advantage battlefield of contracts. Coinglass data shows that Bitget's BTC and ETH contract positions continue to rise, ranking second and third among contract exchanges respectively.

Source: TokenInsight

Users first, shaping a top platform

It is no accident that Bitget has grown into the fourth largest trading platform in just six years. Among Bitget's four corporate values, the first is "users first", which means that its business decisions come from user needs rather than the actions of friendly companies.

Bitget's quarterly report shows that it cooperates with and provides support for more than 190,000 customers, with an average response time of less than 3 minutes. In addition, it has helped customers recover more than $190,000.

Image source: public information compilation

When asked how Bitget became the world's top platform, Vugar Usi believes that as the crypto industry matures, the competition among trading platforms will not only be limited to the platform or the transaction itself, but the competition at the level of the entire crypto ecosystem.

In fact, Bitget has already built a diversified crypto ecosystem through the layout of the entire industry. The acquisition of the decentralized wallet Bitget Wallet, support for VC institutions such as Foresight Ventures, and investment in emerging public chains such as Morph cover multiple upstream and downstream links of the crypto industry chain.

Bitget's current status can also be reflected in its exclusive cooperation with football superstar Messi. On the eve of the 2022 World Cup, shortly after Binance announced the signing of "Champions League King" Cristiano Ronaldo, Bitget reached a cooperation with another GOAT Messi in the football field. As the two most influential football stars in the world, Cristiano Ronaldo and Messi competed with each other in the World Cup. Signing Messi, who is as famous as Cristiano Ronaldo, also reflects Bitget's determination to challenge the industry leader.

In addition to using Messi's unparalleled global influence to promote the crypto industry, Bitget's cooperation with Messi also stems from the fact that its development process coincides with Messi's growth experience. From being ignored and not optimistic, Bitget has worked silently in places where the spotlight cannot reach, and has made progress day by day. One day, it will win the attention of the world and the industry.

Image source: Bitget

Bitget's six-year development history has also witnessed the rise and fall of many crypto platforms. Bitget, adhering to the concept of "long-termism", has brought rich returns to users and made important contributions to the development of the crypto industry. This is the story of Bitget, and it is also a microcosm of the growth of every "serious" crypto company.

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